Economist Paata Bairakhtari believes that remittances from emigrants are extremely important for the Georgian economy, partly because they positively affect the lari's exchange rate.
Speaking on air of "Commersant" radio, Paata Bairakhtari said that remittances from emigrants are among the top three main sources of cash inflow into the country.
"To demonstrate the importance of remittances for our economy, let's consider a few factors and parameters. For example, the volume of remittances is 6 times higher than FDI volume in the same period, which is a colossal figure. Apart from that, remittances account for almost half of our exports, which is also a colossal amount. Considering that remittances are among the top three sources of cash inflow. Therefore, they are undoubtedly very important for our economy."
“The statement made by the Georgian Dream government officials that this money is transferred to someone’s accounts and doesn’t enter the budget. Believe me, the economy will crumble if these people cease sending money transfers for a month,” says Paata Bayrakhtari.
